Islamabad: The Federal Board of Revenue (FBR) is proposing new tax measures to align with fiscal objectives, as reported by a news source on May 16. These measures aim to generate between PKR 1.2 trillion and PKR 1.3 trillion, aligning with a revenue target of PKR 11.6 trillion to PKR 11.7 trillion for the fiscal year 2024-25.
Sources reveal that the FBR has presented preliminary budget proposals to the International Monetary Fund (IMF). These proposals entail new taxation strategies such as imposing additional taxes, eliminating exemptions and zero-ratings, and taxing the real estate and retail sectors.
The FBR aims to garner between Rs 1.2 trillion and Rs 1.3 trillion in revenue for the upcoming fiscal year, with the exact amount to be determined shortly. Approval from Finance Minister Mr. Muhammad Aurangzeb is still pending for these budgetary proposals.
